Partnership account

Accountancy

Here why we have not given Dr to pand l appropriation instead of salary ac and in case of interest given Dr to pand l appropriation ac

Samarth Kshatriya

CA Inter

★ 1K+

29-Oct-22 03:04

339

Answers (1)

Salaries, interest paid are nominal accounts, which will be finally transferred to p&l appropriation a/c at the end. Hence, they made net entry with p&l appropriation a/c.

Naresh Sundar

CA Inter

★ 2K+

29-Oct-22 07:58